Forest Area Federal Credit Union

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A short history of Forest Area FCU

Since its inception in 1983 the Forest Area Federal Credit Union has been serving its members in the Fife Lake, Michigan area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Robert Raden, the Forest Area FCU has grown its membership to over 11,535 with assets of more than $106,026,956. They have a main office and 5 branch offices. Please see the credit unions website or contact them by phone at (231) 879-4154 or email them at fafcu@forestarea.com to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in Fife Lake, MI.

General Information For Forest Area FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 24047
Address PO Box 118 
City Fife Lake 
State Michigan 
Zip-Code 49633
Phone Number (231) 879-4154
Fax Number (231) 879-3989
Email Address: fafcu@forestarea.com
CEO/President Robert Raden
Members 11,535 
Full-Time Employees 35 
Part-Time Employees
Number of Branch Offices
Total Assets 106,026,956 
Website http://www.forestarea.com 

Compare Forest Area Federal Credit Union To Other Local Credit Unions


Credit Union Name
Branch Name
Address
Zip Code
Phone Number
ATM Access
Distance (Miles)
Wexford Community CU Wexford Community Credit Union 1021 N Mitchell St 49601 (231) 775-2081 No 24.77
Northwest Consumers CU Northwest Consumers Federal Credit Union 2948 Garfield Rd N 49686 (231) 947-7600 No 24.91
Tba CU South Airport 2900 W South Airport Rd 49685 (231) 946-7090 No 25.06
East Traverse Catholic CU Main Office 3797 Veterans Dr 49684 (231) 946-6655 No 26.93
4front CU Hastings Office 1234 Hastings St 49685 (231) 929-2014 No 27.40

Forest Area Federal Credit Union Financial Performance Charts


Performance Charts

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Financial Data


Forest Area Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 8.90 1.90 2.90 5.00 5.25
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 151 28 84 268 260
Rank Among All Michigan Credit Unions 22 6 20 78 54

Forest Area Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.15 N/A 1.02 1.61
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions N/A 119 N/A 169 84
Rank Among All Michigan Credit Unions N/A 14 N/A 33 10
Forest Area Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 8.9001,4543,435,168
All Other Unsecured Loans/Lines of Credit 17.0001,1391,407,211
Short-Term, Small Amount Loans (STS) (Federal CU Only) 25.00095,300
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 1.900831,660,027
Used Vehicle Loans 2.9001,0159,920,717
Total 1st Mortgage Real Estate Loans/Lines of Credit 5.00047622,803,238
Total Other Real Estate Loans/Lines of Credit 5.2501332,014,594
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.9003453,437,888
TOTAL LOANS & LEASES 4,65444,684,143

Forest Area Federal Credit Union Real Estate Loans and Lines of Credit

REAL STATE LOANS FIRST MORTGAGE

No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 151,27700
    b. 15 Years or less 8126,29600
Balloon/Hybrid
    a. > 15 years 1014,813,317181,132,490
    b. 15 Years or less 36617,812,348138,000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 0000

OTHER REAL ESTATE

Closed-End Fixed Rate 53882,66710250,000
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 801,131,927240,000
Open-End Fixed Rate 0000
TOTALS 60924,817,832311,460,490

MISCELLANEOUS REAL ESTATE LOANS/LINES OF CREDIT INFORMATION

Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 000
REVERSE MORTGAGES
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Forest Area Federal Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending Yes
Share Secured Credit Cards Yes
Overdraft Protection/Courtesy Pay No
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes